GasBuddy News Article

47

votes

No Cap on Gas Prices

WSJ
--
With a little more than six months to go before Election Day and with gas prices averaging $3.90 a gallon, the president called on Congress to pass new laws to help prevent financial speculators from driving up gas prices.

Stirring words, but ones unlikely to have any impact on gas prices. The measures Mr. Obama endorsed require congressional approval, and no one expects Congress to pass any of them.

There are things Mr. Obama could do under current law to rein in manipulation. For instance, investigate oil producers, refiners and traders. A year ago, he announced a "working group" of government regulators and law-enforcement agencies that would "root out any cases of fraud and manipulation."

There are things Mr. Obama could do under current law to rein in manipulation, but it's a joke if you think he will do anything to jeopardize getting gas prices higher so he can force his green crap down our throats.